Horizon Kinetics’ investment process is driven by our independent research. Our ideas are originally researched and employed throughout our products. Our independently minded approach has produced unique results over time making our products and services well suited to an institution’s broader portfolio. In fact, Horizon Kinetics' strategies have exhibited low excess return correlation1 with other peer managers since inception of the firm in 1994. Horizon Kinetics strategies are generally a unique, uncorrelated input into a broader portfolio construction process.
 Based on since inception excess return correlation through 12/31/09 for long-only equity strategies vs. peers in PSN Universe.